此外，快递行业还深入服务现代农业，随着水果、海鲜菌菇等特色农产品寄递量增长。快递企业安排专业揽收团队驻点服务，增 强快速分拣、专业包装等一站式服务能力。加大航空、高铁等运力资源投入，保障地方特色产品鲜达全国。 今年以来，我国快递企业通过增加无人车运输、配置自动分拣机等方式，缩短分拣派送时间，实现末端快速、高效配送。 央视网消息：记者从国家邮政局了解到，前8个月我国快递业务量同比增长17.8%。快递业市场规模稳步拓展，综合运能不断提 高。 国家邮政局最新数据显示，前8个月，我国邮政行业寄递业务量累计完成1399.2亿件。其中，快递业务量累计完成1282亿件，同 比增长17.8%。 专家表示，行业通过优化服务流程，加强数据和技术赋能，提升市场响应速度，助力生产企业降本增效。快递市场规模快速增 长，综合运能不断提高，与上下游产业紧密融合，有力支撑经济平稳运行。 ...

公司研究 证 券 研 究 报 告 极兔速递（01519.HK）2025 年半年报点评 推荐（维持） 上半年经调整净利润 1.56 亿美元，同比 +147%，持续看好公司三市场发力 公司公告 2025 半年报： 1、财务数据：1）收入：2025H1 公司收入 55 亿美元，同比+13.1%；其中快递 服务收入 53 亿美元，同比+12.7%；2）盈利：公司经调整净利润 1.56 亿美元， 同比+147%，经调整 EBITDA 4.4 亿美元，同比+24.2%，经调整 EBIT2.0 亿美 元，同比+65.4%。 2、分区域数据： 1）东南亚市场：H1 件量达到 32.3 亿件，同比+58%，市占率 32.8%，同比 +5.4pct；单票收入 0.61 美元，同比-0.13 美元，单票成本 0.50 美元，同比-0.10 美元，其中单票运输成本 0.12 美元，同比-0.04 美元，单票分拣成本 0.04 美 元，同比-0.02 美元。单票 EBIT 0.073 美元，同比+0.007 美元。公司在东南亚 抓住电商高增长机遇，并将中国经验赋能东南亚，进一步巩固在东南亚的竞争 优势。 2）中国市场：H1 件量达到 ...

Summary of the Conference Call for Jitu (2025) Company Overview - **Company**: Jitu - **Period**: First half of 2025 - **Total Package Volume**: 14 billion packages, a year-on-year increase of 27% [2][5] Key Financial Metrics - **Adjusted EBIT**: $235 million, a year-on-year increase of 74%, accounting for 120% of the group's total [2][6] - **Adjusted Net Profit**: $156 million, a year-on-year increase of 147% [4] - **Group Revenue**: $1.55 billion, a year-on-year increase of 13% [5] - **Adjusted EBIT for China**: $13 million, marginal profit [2][6] - **Losses in New Markets**: $18 million, with cross-border and undistributed losses totaling $34 million [2][6] Regional Performance Southeast Asia - **Package Volume Growth**: 58% in the first half of 2025 [7] - **Market Share Increase**: Up 5.4 percentage points to 32.8% [7] - **Single Package Revenue**: Decreased by $0.13 to $0.61 [7] - **Single Package Cost**: Decreased by $0.10, leading to a decline in gross margin by $0.03 [7] - **Adjusted EBIT Guidance for 2025**: Increased from $410 million to $520 million [13] China - **Market Position**: Ranked fifth in market share [8] - **Package Volume Growth**: 20%, exceeding industry average [8] - **Competitive Landscape**: Notable declines among competitors, with Yunda down 66% year-on-year [8] - **Profitability Outlook**: Expected significant downward adjustment in profit guidance due to competitive pressures [14] New Markets - **First Half EBITDA**: Achieved $1.6 million profit [9] - **Package Volume Growth**: 22% [9] - **Single Package Revenue**: $2.18 [9] - **Adjusted EBIT Guidance for New Markets**: Expected to be $0.09 per package in the second half, with an annual EBIT profit of approximately $3.9 million [16][17] Future Outlook - **Overall Adjusted Net Profit Guidance for 2025**: $440 million, with expectations for Southeast Asia and new markets remaining strong despite challenges in China [20] - **2026 Projections**: Southeast Asia expected to generate $700 million in net profit, with new markets contributing $50-60 million [21][22] - **Valuation Potential**: Overall valuation could reach 140 billion RMB, indicating significant growth potential compared to the current market cap of over 80 billion RMB [22] Additional Insights - **Strategic Pricing Adjustments**: Implemented in Southeast Asia to expand market share [2][7] - **Investment Sentiment**: Despite challenges in the Chinese market, the strong performance in Southeast Asia and new markets supports a bullish investment outlook [23]